JCALvsMUNIETF Comparison
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JPMorgan California Tax Free Bond ETF (JCAL) and PIMCO Intermediate Municipal Bond Active ETF (MUNI) belong to the same industry segment: Municipal Bonds. JCAL's top 1 sector exposures are Municipal. In contrast, MUNI's top sector exposures are Municipal and Sovereign. JCAL is more expensive with a Total Expense Ratio (TER) of 0.44%, versus 0.35% for MUNI. Run a side-by-side ETF comparison of JCAL and MUNI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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JCAL vs MUNI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | JCAL MUNI | +3.31%+3.24% | -0.50%-0.40% | n/a-0.05% | n/a+0.38% | n/a+14.21% | n/a+5.31% |
| Flows | JCAL MUNI | -$12M+$536M | +$14M+$636M | -+$1.23B | -+$1.44B | -+$2.60B | -+$3.09B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | JCAL MUNI | +4.64%+4.60% | n/a+2.88% | n/a+3.20% | n/a+3.14% |
| Max drawdown | JCAL MUNI | -5.04%-4.87% | n/a-5.76% | n/a-5.76% | n/a-10.90% |
| Max drawdown duration | JCAL MUNI | 78d78d | n/a243d | n/a243d | n/a975d |
Trading data
JCAL | MUNI | |
Last sale 11/2/2026 at 8:04 PM | $48.61 | $51.20 |
| Previous close 10/30/2026 | $48.79 | $51.23 |
| Consolidated volume 10/30/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 11/2/2026 at 8:04 PM
Live
Closed
JCAL | MUNI | |
|---|---|---|
| Last price | $48.61 | $51.20 |
| 1D performance | -0.37% | -0.07% |
| AuM | $510.77 M | $3.70 B |
| E/R | 0.44% | 0.35% |
Characteristics
JCAL | MUNI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | J.P. Morgan Asset Management | PIMCO |
| Benchmark | - | - |
| N° of holdings | 112 | 133 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 12, 2026 | November 30, 2009 |
| ESG | No | No |
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Exposure
Countries
JCAL
USA
40.33%
Other
59.67%
MUNI
USA
39.62%
Other
60.38%
Sectors
JCAL
Municipal
40.33%
Other
59.67%
MUNI
Municipal
38.54%
Other
61.46%
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Diversification
JCAL
Total weight of top 15 holdings out of 15
16.28%
MUNI
Total weight of top 15 holdings out of 15
15.72%
Top 15 holdings
Data as of September 30, 2026
JCAL
US072024ZH86
2.13%
US072024C758
1.83%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.09%
US13063EGP51
1.07%
California, FRN 1may2033, USD (2003A-1)
1.07%
US568087BK56
1.06%
County of Santa Clara, 4% 1aug2038, USD
0.99%
US13032U7S16
0.98%
California Infrastructure and Economic Development Bank, 5% 1nov2029, USD (2024)
0.97%
North Orange Community College District, 4% 1aug2044, USD
0.94%
US13032UX453
0.92%
California Community Choice Financing Authority, 5% 1dec2035, USD (2025G)
0.83%
US13034A3Y44
0.82%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.80%
Sacramento Municipal Utility District, 5% 15aug2049, USD (2023)
0.78%
MUNI
US01065CAM55
1.86%
US09182TEN37
1.35%
US560354AH55
1.23%
US19648FJ880
1.14%
US88285ALL07
1.11%
US407287NG24
1.01%
Black Belt Energy Gas District, 5% 1jan2034, USD (2026)
0.97%
US20775DL830
0.97%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
0.96%
Puerto Rico Sales Tax Financing Corp., 0% 1jul2046, USD (10001D)
0.91%
US64990AZG39
0.88%
New York Transitional Finance Authority, FRN 1nov2042, USD (2014)
0.84%
New York Municipal Water Finance Authority, FRN 15jun2048, USD (2014)
0.84%
US67756AH960
0.84%
US31350ADW53
0.80%
Frequently asked questions about JCAL and MUNI
Which ETF is bigger: JCAL or MUNI?
As of October 30, 2026, JCAL holds $510.77 M in assets under management (AUM), while MUNI manages $3.70 B.
What sectors do the JCAL and MUNI ETFs invest in?
JCAL leans toward sectors like Municipal. Meanwhile, MUNI focuses on Municipal.
What are the top holdings of the JCAL ETF and MUNI ETF?
JCAL top holdings include US072024ZH86, US072024C758 and California Community Choice Financing Authority, 5% 1feb2055, USD (2024D). MUNI holds in its top three: US01065CAM55, US09182TEN37 and US560354AH55.
Which ETF is more diversified: JCAL or MUNI?
JCAL holds 307 securities with 16.28% of its assets in the top 15. MUNI has 343 securities and a top 15 weight of 15.72%.
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